Business, 07.05.2020 06:01 brittanycrowdis

The company’s general ledger account had a balance of $40,448 at the end of July. Deposits outstanding totaled $7,200 and all checks written by the company were processed by the bank except for those totaling $8,510. In addition, a $2,900 July deposit from a credit customer was recorded as a $290 debit to cash and credit to accounts receivable, and a check correctly recorded by the company as a $75 disbursement was incorrectly processed by the bank as a $750 disbursement. Required:1. Prepare a bank reconciliation for the month of July.2. Prepare the necessary journal entries at the end of July to adjust the general ledger cash account.

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The company’s general ledger account had a balance of $40,448 at the end of July. Deposits outstandi...

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